SEATTLE — Kerry K. Killinger, the chairman, president, and chief executive officer of Washington Mutual Inc., received a nearly 60% raise in his cash bonus last year that boosted it to $2.46 million. His salary was the same as in 1999, $1 million.

In a filing with the Securities and Exchange Commission made public Tuesday, the thrift company said Mr. Killinger’s compensation was based on earnings of $1.9 billion, “which is indicative of creation of shareholder value,” capital strength, and “in particular, the expansion of the franchise as a result of mergers and acquisitions.”

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.